Page 10 - Budget 2024

Budget 2024: Bihar temples to be transformed into world-class destinations

Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site. "Tourism has always been a part of our civilisation. Our efforts in positioning India as a global tourist destination will also create jobs, stimulate investments and unlock economic opportunities for other sectors," Sitharaman said in her Union Budget 2024-25 speech. In addition to the measures outlined in the Interim Budget, she proposed some measures related to the tourism sector. "Vishnupad Temple at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar are of immense

Budget to plug skill gap, boost employment creation: HR, ed-tech industry

HR and Ed-tech industry experts on Tuesday said budget proposals on skilling, internship and job creation will help address the need for a skilled workforce and boost employment generation for youth. Experts termed the Budget for 2024-25 presented by Finance Minister Nirmala Sitharaman as forward-thinking which aligns with the vision of a 'Viksit Bharat'. Direct Benefit Transfer (DBT) of up to Rs 15,000 is set to boost formal employment by making it more attractive for industries to hire new talent, they added. Sitharaman in the budget announced an outlay of Rs 2 lakh crore for several schemes targeting 4.1 crore youth. The minister announced a provision of Rs 1.48 lakh crore for education, employment and skilling programmes. TeamLease Degree Apprenticeship Chief Strategy Officer Sumit Kumar said with targeted outreach to 4.1 crore youth over five years, the initiative is poised to make a significant impact by seamlessly integrating education, skill development and employment. "Up

Is old tax regime over? What FM Sitharaman said about old and new regimes

Union Budget 2024-25: Govt to review old tax regime. What is the current tax system and what has the Budget 2024 proposed for FY25

Budget 2024: What does indexation mean? How does it work in real estate?

Indexation benefits will continue to apply to properties purchased before April 1, 2001, but not to those purchased after that date

Budget 2024 retains Rs 1.2 trillion telecom revenue goal for FY25

Despite muted spectrum auctions, non-tax telecom revenue for FY25 higher by 28.5%

Union Budget 2024: Fiscally prudent, inclusive, and growth-oriented

The MSME sector is the backbone of our economy, and I truly believe that for India to achieve its dream of becoming a US$5 trillion economy, this sector needs to be well supported

What's behind the Centre's big love for Ladakh in Union Budget 2024?

The government's increased budget allocations for Ladakh and additional allocations for various central expenditures have focused on the overall development of the region over the years

Union Budget 2024: Rs 13,539 cr allocated to social justice department

The Department of Social Justice and Empowerment has been allocated Rs 13,539 crore in the 2024-2025 budget, an increase of 37 per cent from the 2023-2024 revised estimates of Rs 9,853.32 crore. This increase is primarily focused on enhancing welfare programmes for marginalised communities and improving infrastructure for social services. The key areas of funding include Rs 9,549.98 crore for the 'Umbrella Scheme for Development of Scheduled Castes', a significant increase from the Rs 6,780 crore in the previous financial year. For achieving social justice comprehensively, the saturation approach of covering all eligible people through various programmes, including those for education and health, will be adopted, Finance Minister Nirmala Sitharaman said on Tuesday while presenting the 2024-25 Union Budget in Parliament. She said to ensure inclusive human resource development, a social justice saturation approach will be adopted. Social justice through the saturation approach refer

Budget 2024: Steep STT increase to tame retail frenzy in derivatives market

Some market participants have also suggested that income from F&O trading should be classified as speculative income and taxed at a higher rate

Chidambaram, Tharoor laud angel tax end, call Budget 2024 'underwhelming'

Union budget 2024-25: Former Finance Minister P Chidambaram and Congress leader Shashi Tharoor find Budget 2024 presentation full of missed opportunities, compared it Congress manifesto

Cut in gold import duty will curb smuggling, boost jewellery exports: Goyal

The announcement in the Budget to cut import duty on gold will help boost domestic manufacturing and promote jewellery exports, Commerce and Industry Minister Piyush Goyal said on Tuesday. He also said that the decision for the removal of angel tax will further strengthen the startup ecosystem in the country. "The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling," Goyal told PTI. He added that the gold prices are high and the marriage season is coming and this move would help the people. Presenting the Union Budget 2024-25 on Tuesday, Finance Minister Nirmala Sitharaman said that to enhance domestic value addition in gold and precious metal jewellery in the country, the government has proposed to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent. Giving a big relief to startups, the government on Tuesday announced the removal of angel tax for all classes of inves

Union Budget 2024-25: A Budget for long term capital and gains

The stock market's knee-jerk reaction must not define FM Sitharaman's far-reaching Budget

Union Budget 2024: Disability affairs department allocated Rs 1,225 cr

The Department of Empowerment of Persons with Disabilities has been allocated a total of Rs 1,225.27 crore in the fiscal year 2024-2025, a marginal increase of 0.02 per cent from the previous year's revised estimate of Rs 1,225.01 crore. The budget emphasises the continuation and expansion of key programmes aimed at improving the lives of persons with disabilities through various schemes and projects. A significant portion of the budget is dedicated to the National Program for the Welfare of Persons with Disabilities, with Rs 615.33 crore allocated for this fiscal year, up from Rs 502 crore in the revised budget for 2023-24. The Department of Empowerment of Persons with Disabilities (DEPwD) has been allocated a total of Rs 1,225.27 crore in the fiscal year 2024-25, a marginal increase of 0.02 per cent from the previous year's revised estimate of Rs 1,225.01 crore. This programme includes Rs 315 crore for Assistance to Disabled Persons for Purchase/Fitting of Aids and Appliances, an

Budget 2024: Govt scraps import taxes on critical minerals to aid RE sector

Duties on metals including copper, lithium and cobalt will be lifted to aid the domestic development of sectors like renewable electricity and aerospace, she said in the speech on Tuesday

Budget 2024: Mere 0.5% boost to department of drinking water and sanitation

The Department of Drinking Water and Sanitation has received a budgetary allocation of Rs 77,390.68 crores for the fiscal year 2024-2025. This figure reflects a minimal increase of only 0.5 per cent from the revised estimate of Rs 77,032.65 crore announced in budget 2023-2024. A substantial portion of this financial year's allotment for the Drinking Water and Sanitation department is directed towards the Jal Jeevan Mission (JJM), which received Rs 69,926.65 crore, a marginal rise from the revised estimate of Rs 69,846.31 crore in 2023-2024. This flagship programme aims to provide functional household tap connections to every rural household by 2024, focusing on ensuring regular and adequate water supply. Additionally, the Dr Syama Prasad Mookerjee National Institute of Water and Sanitation (SPM-NIWAS) has been allocated Rs 95 crore, a huge rise from the Rs 3 crore it got in the last revised estimate. The Swachh Bharat Mission (Gramin), which focuses on maintaining Open Defecation

Union Budget 2024: Budget allocation for Ladakh rises by 32% to Rs 5,958

The Centre has allocated Rs 5,958 crore for the Union Territory of Ladakh in the Union Budget 2024-25 announced on Tuesday, a massive 32 per cent rise from last year's allotment of Rs 4,500 crore. The Ladakh UT, which was carved out of Jammu and Kashmir after the abrogation of Article 370 in 2019, has received Rs 2,035.49 crore for establishment expenditure of the Centre to meet its secretariat-related expenses and establishment of other departments and offices. The Budget, announced by by Finance Minister Nirmala Sitharaman, has allocated to Ladakh Rs 3,922.51 crore for other Central sector expenditure, including agriculture and allied schemes, water supply and sanitation, rural development, power, forestry and wildlife, medical and public health, and education among other departments.

Budget 2024: Realty gets mixed signals with housing boost, indexation cut

Rs 10 trillion boost for urban housing but indexation removal plays dampener

Budget 2024: How FM Sitharaman's tax changes will impact your finances

Finance Minister Nirmala Sitharaman's Budget 2024 brings a mix of tax reliefs and hikes with key changes including income tax slab restructuring and revised capital gains tax rates

Budget 2024-25 commits reforms to strengthen IBC, strengthen tribunals

Finance Minister says integrated technology platform will be set up for improving bankruptcy code outcomes

Budget 2024: Sitharaman's Budget cuts subsidy bill by 7.8% to Rs 3.81 trn

In a move that signals fiscal prudence, the government reduced its subsidy outlay for food, fertiliser, and fuel by 7.8 per cent in the full Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday. The total subsidy allocation stands at Rs 3,81,175 crore for the current fiscal, down from the previous year's figure of Rs 4,13,466 crore. This reduction aligns with the estimates projected in February's interim budget. Breaking down the allocations, the food subsidy has been set at Rs 2,05,250 crore, a decrease from the revised estimates of Rs 2,12,332 crore for the fiscal ending March 31, 2024. This subsidy covers the difference between the economic cost of foodgrains procured by the government and their sales realisation under the National Food Security Act (NFSA) and other welfare schemes, benefiting approximately 80 crore individuals. The fertiliser subsidy has seen a more significant cut, with Rs 1,64,000 crore earmarked for 2024-25 against